GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	2 

SENATE BILL 1195
Committee Substitute Adopted 6/30/93

Short Title:  Use Value/Donated Land.	(Public)
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Sponsors:
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Referred to: 
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May 26, 1993

A BILL TO BE ENTITLED
AN ACT TO PROVIDE THAT IF LAND TAXED AT ITS PRESENT USE VALUE IS DONATED TO A COUNTY OR MUNICIPALITY, THERE SHALL BE NO ROLLBACK OF DEFERRED TAXES.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-277.4(d) reads as rewritten:
"(d)	Notwithstanding the provisions of subsection (c), no deferred taxes shall be owed and all present use value tax liens shall be extinguished in the following cases:
(1)	When a farm unit loses eligibility for present use value treatment solely due to a change in income caused by enrollment of land in the federal Conservation Reserve Program authorized by Title XII of the Food Security Act of 1985 (Pub. L. 99-198), as amended.
(2)	When property loses eligibility for present use value treatment solely because it is conveyed as a gift to a taxing unit."
Sec. 2.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 1994.